WEEKLY MARKET ANALYSIS FOR 08 JUL 2024 / BREAKOUT STOCKS FOR TRADING

SPORT DAILY

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Transcript

00:00hello friends welcome back to our channel friends talk today we are with yet

00:13another episode of our weekly market analysis series so as you know that in this series

00:20we analyze how the indexes performed in last week and the outperforming

00:28indexes we analyze the stocks in them and make our strategy for next week

00:37so if you see then this week which was closed on 5th

00:45in that IT index 4.3% PSE index 3.83% and pharma index 3.66% outperformed

00:55as I have been saying since last two weeks that IT is outperforming

01:01and we can see the chances of buying in IT shares

01:05so as per that last two weeks and this is the third week in which IT is outperforming the market

01:12so you can analyze the IT stocks and you can make your strategy for next week

01:20then next was PSE which was 3.83% and pharma index 3.66%

01:27so pharma index is also outperforming since last two weeks

01:35so you can analyze the pharma stocks and you can make your strategy for next week

01:45then the underperforming sectors were PSU, Bank, Auto and Consumption

01:54PSU was closed on negative and Bank Nifty was 0.61%

02:03means private bank has shown good performance and government bank has slowed down

02:10Auto which was performing well since last few months is also slowing down

02:16and consumption is also 0.8% but we can see slowdown in that also

02:22so friends now we will analyze the individual stocks

02:28so you watch our videos but like it, share it with your friends

02:35subscribe to our channel and press the bell icon so that you can get updates of new videos

02:41and you can also watch our past videos so that you can know how we analyze and see the performance

02:53so friends now we will go to chart and analyze the outperforming sectors

03:04so first one is IT sector and the first stock is Wipro

03:10all the IT stocks are performing well but we like Wipro

03:20so this is the weekly chart of Wipro

03:23as you can see Wipro was closed in last week also

03:28and Wipro is coming continuously in this week also because the major level of Wipro is closed

03:35and as you can see Wipro has taken some rejection means there is some profit

03:40so if Wipro closes above 546 then you can make a new position

03:48and you will get some good targets

03:53as you can see the target of Wipro is almost high

04:02which is around 32%

04:06and the first resistance will come here which is around 12-13%

04:15so as soon as Wipro closes above 550 then we can make a new position

04:22with stop loss which is around 516 which is around 6-7%

04:31so if we give safe side then we can make a new position with 10% stop loss

04:38so this was Wipro play analysis

04:41so now let's go to LTI Mindtree which is our second stock

04:46so LTI Mindtree was made after merger of L&T and Mindtree

04:54this is also a good company

04:56and this company is L&T which is a well-known brand

05:00and Mindtree was made after their merger

05:04so they merged both of them LTI Mindtree

05:07so if you see this is the weekly chart of LTI Mindtree

05:10and here this candle looks like a rejection type

05:15why?

05:16because the upper side is more weak

05:19and this came after the run-up

05:23means there is some profit here

05:25so if you see this level

05:28we mark it here

05:30which comes out as 5563

05:33because if you see

05:355550 is the weekly high

05:39so if it comes above that

05:41then we can make a new buying position

05:45so let me tell you again

05:47when it will close above 5550

05:51then only we will make a new buying position

05:54otherwise it will take rejection from here

05:56and it can come down to this level to take support

06:00so now we are not interested in buying here

06:05when it will go above this level

06:07then only we can make a new buying position

06:12and if it comes down from here

06:14then this is a support level

06:16as you can see

06:17if it makes a good candle around this

06:20then we can make a new buying position

06:24and if you can see my reason for saying this

06:28if you can see

06:30this RSI has come near 60

06:33and there is a pause

06:36so if there is such a situation

06:38then it can come down from here

06:40so let it be cross this level

06:42then only we should take a new position in this stock

06:46and if it crosses in the coming week

06:49then we will make a position here

06:51our stop loss will come down

06:52the load of this candle

06:54and we can see the first target is around 12%

06:58and our second target will be around 32%

07:02which comes out to be around 7350

07:07but when this level will come

07:11then only

07:12our level is

07:15we buy expensive and sell expensive

07:17we don't buy cheap

07:19so we have to buy expensive and sell expensive

07:23the stock which is in momentum

07:25we have to buy that only

07:27the stock which is in slowdown

07:29we don't buy that

07:31so that we get the return in less time

07:34and get it fast

07:36and then we apply stop loss

07:38so that if it goes opposite to us

07:41then we can get rid of it by giving stop loss

07:44because no matter how good the stock is

07:46no matter how good the company is

07:48there are always ups and downs

07:51so stop loss is the only way to protect your capital

07:54so we have to protect our capital

07:56any trader or investor

07:58their first duty is to protect their capital

08:03so for this we have to give stop loss

08:05is the only way to protect your capital

08:07so we have to give stop loss and get rid of it

08:09the next sector was PAC sector

08:12and the first stock from that is power grid

08:15so power grid is the company which is related to power sector

08:23it works for distribution

08:25transmission and distribution

08:27of electrical elements

08:29so if you can see

08:31so we have taken out power grid

08:33it is same in this also

08:35when this level comes out of 350

08:37after that we have to make position

08:39because this big candle was made

08:41it was made around 4th June

08:43around 4th June

08:45so this is a very big candle

08:47and its high will not come out

08:49till then we cannot make new position

08:51so when that high will come out

08:53after that we have to make new position

08:55after 350

08:57and then we will take our target

08:59as 10% or 20%

09:01we will put stop loss of 10%

09:03and we will make our position

09:05then next stock is Gale India

09:07so

09:09now

09:11the chart will open

09:13Gale India weekly chart

09:15and

09:17Gale India is

09:19the company which works in gas exploration

09:21with that

09:23they are making their project

09:25in petrochemical sector

09:27now a new project is coming

09:29which is in Maharashtra

09:31there that

09:33PDHPP

09:35Dehydrogenation

09:37PP

09:39Polypropylene

09:41which is a very big project

09:43our logic is same

09:45this

09:47233 level

09:49when it will come out

09:51then we have to make entry

09:53and we have to give stop loss of 10%

09:55then we will

09:57trail our positions

09:59if stock moves

10:01in our desired direction

10:03then next sector is

10:05Pharma and the first stock of Pharma

10:07is Divislab

10:13so Divislab is

10:15a pharmaceutical company

10:17and is a well known brand in India

10:19we see many products of this

10:21if you

10:23go to buy medicines

10:25many medicines

10:27of this brand

10:29are sold in market

10:31so this is Divislab

10:33weekly chart

10:35this breakout level

10:37almost

10:39May

10:4122 means

10:43after 2 to 2.5 years

10:45this stock has come

10:47almost March 22

10:49so 2 to 2.5 years

10:51and now this stock

10:53has come in breakout

10:55and has given good 3 to 4 week consolidation

10:57so now if we want to make new position

10:59then we can make it

11:01this level

11:03if we make new position

11:05then we will get 15% return

11:07and our stop loss will be

11:096% stop loss

11:11so

11:13we are getting good stock

11:15and good valuation

11:17so we can make position

11:19and then

11:21we will give 6% stop loss

11:23and we will get

11:251 to 2 risk to reward

11:27so we can make position

11:29this level

11:31is

11:334,6,5,0

11:35above 4,6,5,0

11:37above 4,6,5,0

11:39above 4,6,5,0

11:41then we will make new position

11:43and after giving stop loss

11:45and as we get target

11:47so we can make

11:49new position

11:51in Divislab

11:53next is Dr. Reddy

11:55this is also well known brand

11:57Dr. Reddy's lab

11:59this is a good company

12:01and big company in India

12:03so if you see

12:05this is Dr. Reddy's weekly

12:07chart

12:09and now

12:11this is almost

12:13near to lifetime high

12:15means

12:17how much it will go up

12:19this may be 20000 or 20,000

12:21that is

12:23unknown

12:25but now

12:27as it goes above this level

12:29which is 6,5,5,0

12:31then we will make new position

12:33and our stop loss will be

12:35this swing

12:37which is 12% stop loss

12:39so if you can take 12% stop loss

12:41then only you can make position

12:43and then our target

12:45is almost 1 to 2

12:47which is 24%

12:49which is almost 8000

12:511 to 2

12:551 to 2

12:591 to 1

13:01which is 7,300 to 7,400

13:03so according to this

13:05we can make position

13:07now pharma sector

13:09is outperforming and this stock

13:11in its lifetime high

13:13this is a good chance to take this

13:15because sector is also performing

13:17and stock is also outperforming

13:19and stock is also outperforming

13:21so according to this

13:23you can make position

13:25so that's all for now friends

13:27thank you, you also study this stock

13:29and according to this

13:31you can make position

Transcript

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